3,7,18

• The marketing environment


  the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.
• Micro-environment


  the actors close to the company that affect its ability to serve its customers -the company, suppliers, marketing intermediaries, customer markets, competitors, and public
• Macro-environment


  = the larger societal forces that affects the microenvironment -demographic, economic, natural, technological, political, and cultural forces
• 7 types of publics

  financial, media, government, citizen-action, local, general, internal
• 5 groups of customer market


  Consumer, business, reseller, government and international market
• 6 microenvironment actors


  The company, suppliers, marketing intermediaries, competitors, publics, customers
• 6 macro-environmental factors


  culture, demographics, natural, technology, economic, political/legal
• age structure of a population

  Baby boomers (46-64), Gen X (65-76), Millennials (77-2000), Gen Z ( >2000)
• The economic environment


  The economic factors (interest rates, income, cost of living) that affect consumer purchasing power and spending pattern
• Natural environment


  the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities
• Technological environment


  Most dramatic force changing the marketplace New product, opportunities
• Cultural environment


  Institutions and other forces that affect a society's basic values, perception, and behaviors.
• Geographic segmentation


  divides the market into different geographical units such as nations, regions, states, countries, cities or even neighbourhoods, population density (urban, suburban, rural), climate
• Demographic segmentation


  divides the market into segments based on

  variables such as age, life-cycle stage (single, young family, ...), gender, income, occupation, education, religion, ethnicity and generation.
• Psychographic segmentation


  divides a market into different segments based on social class, lifestyle, values, or personality characteristics.
• Behavioural segmentation


  divides market into segments based on consumer

  knowledge, attitudes, uses of product, or response to a product.
• Multi-segmentation


  used to identify smaller, better-

  defined target group.
• Segmenting Business markets


  Use many of the same variables as consumer market

  +

  Customer operating characteristics

  Purchasing approaches

  Situational factors

  Personal characteristics
• Segmenting International markets by

  Political and legal factors

  Geographical location

  Economic factors

  Cultural factors
• Requirements for effective segmentation


  measurable, accessible, substantial, differentiable, actionable
• 3 factors of targeting

  segment size growth

  Segment structural attractivness -> Porter's 5 forcers

  Company objectives and resources
• Selecting Target Market Segments

  undifferentiated (mass) marketing, differentiated (segmented) marketing, concentrated marketing, micromarketing (local), individual marketing
• Product position


  the way the product is defined by consumers on important attributes - place it occupies in consumer's mind compared to competing products
• Positioning


  position the market offer in the minds of target consumers
• Comparative advantage


  an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices
• Value proposition


  he full mix of benefits upon which a brand positions - the full proposition of a brand

  
• Competitive marketing strategies


  how companies analyse their competitors and develop value- based strategies for profitable customer relationships
• Competitor analysis


  identifying key competitors, assessing competitors, Selecting Competitors to Attack and Avoid, Designing a Competitive Intelligence System
• Approaches to Marketing Strategy pass by

  entrepreneurial, forumulated and intrapreneurial marketing
• Basic Competitive Strategies (Typology of Porter)


  cost leadership strategy

  Differentiation strategy

  Focus strategy

  Middle of the road (losing one)
• Basic Competitive Strategies (Tracy and Wiersema -> T&W)


  Operational excellence (best total cost)

  Product leadership (best product)

  Customer intimacy (best total solution)
• competitive position


  Market leader (40% of the market)

  Market challenger (30%)

  Market follower (20%)

  Market nicher (few %)
• maintaining profitable customer relationship

  
• Porter's Five Forces Framework

  Threats of new entrants

  Bargaining power of buyers

  Threats if substitute products

  Bargaining power of suppliers

  Competitive rivalry